Diplomatic News Agency

APTMA to keep mills shut next week in protest

LAHORE, JUNE 18 (DNA) – All Pakistan Textile Mills Association (APTMA) has decided to keep all the mills shut next week in protest, as the government is not providing the incentives that were promised to the industrialists.

APTMA Chairman Aamir Fiaz expressed his views in a press conference and said the trade deficit has reached the highest level in country’s history due to poor policies of government and continuous increase in production costs.

The chairman said that Prime Minister is not fulfilling the promises that were made with the industrialists. He said the volume of export was more than $25 billion in 2013 when the incumbent government took charge, but it has reduced to less than $20 billion.

Aamir Fiaz told that PM Nawaz had promised to pay funds worth Rs180 billion, but Finance Minister Ishaq Dar has allocated only Rs4 billion in the budget for fiscal year 2017-18. He said the industrialists are being asked to increase the exports without giving them the incentives.